January is a time for resolutions for the year ahead. For many of us grown ups, these resolutions focus on increased health and fitness. However, we often forget how important this focus on health is for our children! Thanks to a change in the Child Fitness Tax Credit, it's even more affordable to get our kids started off right. The Child Fitness Tax Credit, introduced in 2006, allows you to claim fees paid for your child's sports/physical activity classes. The catch? There really isn't one. Children must be 16 years old or younger at the beginning of the year, and enrolled in continuous classes weekly (or more often) for at least eight consecutive weeks. Camps qualify too as long as kids are registered for five consecutive days. Currently you can claim up to $500 per year; just in time for the new year the amount will double so you can claim up to $1,000 on your 2015 taxes!
At Jump, we are proud that every term of classes qualifies for the tax credit. The increase comes into effect just in time for our next term, so register now! Contact us before tax time, and we'll provide all the information you need to claim your child's classes.
Let's make 2015 our healthiest year yet!